The transaction is sourced from an SEC EDGAR Form 8-K filing published on June 12, 2023. According to the facts provided, the deal's status is pending regulatory approval.
The financial advisory roster on this deal is extensive. Qatalyst Partners LP is serving as lead financial advisor to Thoma Bravo and Adenza (the target side), with a syndicate of additional advisors supporting in that role, namely Barclays, Citi, Evercore, HSBC Securities (USA) Inc., Jefferies LLC, and Piper Sandler, all named as financial advisors to Thoma Bravo and Adenza alongside Qatalyst. On the acquirer side, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to Nasdaq, with Goldman Sachs & Co. LLC specifically named as serving as lead advisor to Nasdaq.
On the legal side, Kirkland & Ellis LLP is serving as legal advisor to Thoma Bravo and Adenza, the target side of the transaction, while Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Nasdaq, the acquirer.
Beyond confirming that the transaction is structured as a cash-and-stock acquisition with an aggregate disclosed value of 10,500,000,000 dollars, no further detail on the specific mix or ratio between the cash and stock components is included in the facts available.
Several elements of this deal remain undisclosed in the available material. No specific breakdown of the cash-versus-stock consideration mix is given, and no expected closing date is provided. The facts also do not specify which regulatory approvals are required or the anticipated timeline for completion.